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Gulf International Bank UK Ltd Has $1.50 Million Stock Holdings in Vertiv Holdings Co. (NYSE:VRT)

Vertiv logo with Computer and Technology background

Key Points

  • Gulf International Bank UK Ltd reduced its holdings in Vertiv Holdings Co. by 25.2%, now owning 20,722 shares valued at approximately $1.50 million.
  • Wall Street analysts have issued optimistic ratings for Vertiv, with price targets ranging from $150 to $165 and a consensus rating of "Buy".
  • Vertiv recently announced a dividend of $0.0375 per share, representing a yield of 14.0%, which is an increase from its previous dividend.
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Gulf International Bank UK Ltd cut its position in Vertiv Holdings Co. (NYSE:VRT - Free Report) by 25.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,722 shares of the company's stock after selling 6,978 shares during the period. Gulf International Bank UK Ltd's holdings in Vertiv were worth $1,496,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. GW&K Investment Management LLC acquired a new stake in shares of Vertiv in the 1st quarter valued at about $26,000. SouthState Corp acquired a new stake in shares of Vertiv in the 1st quarter valued at about $27,000. North Star Investment Management Corp. grew its stake in shares of Vertiv by 4,120.0% in the 1st quarter. North Star Investment Management Corp. now owns 422 shares of the company's stock valued at $30,000 after buying an additional 412 shares during the period. Sachetta LLC grew its stake in shares of Vertiv by 242.0% in the 1st quarter. Sachetta LLC now owns 448 shares of the company's stock valued at $32,000 after buying an additional 317 shares during the period. Finally, Colonial Trust Co SC boosted its stake in Vertiv by 211.9% during the 4th quarter. Colonial Trust Co SC now owns 315 shares of the company's stock valued at $36,000 after purchasing an additional 214 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on VRT shares. Bank of America lifted their price target on Vertiv from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Wolfe Research reiterated an "outperform" rating and set a $155.00 price target on shares of Vertiv in a research note on Thursday, July 10th. Melius upgraded Vertiv from a "hold" rating to a "buy" rating and set a $165.00 price target for the company in a research note on Tuesday, July 8th. KGI Securities started coverage on Vertiv in a research note on Thursday, April 24th. They set a "hold" rating for the company. Finally, Royal Bank Of Canada lifted their price target on Vertiv from $143.00 to $162.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $144.06.

View Our Latest Stock Analysis on VRT

Vertiv Trading Up 0.3%

NYSE:VRT opened at $132.86 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $50.74 billion, a PE ratio of 63.57, a price-to-earnings-growth ratio of 1.17 and a beta of 1.77. The firm's 50 day moving average is $128.12 and its 200 day moving average is $105.20. Vertiv Holdings Co. has a 12 month low of $53.60 and a 12 month high of $155.84.

Vertiv (NYSE:VRT - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.12. Vertiv had a net margin of 8.93% and a return on equity of 51.64%. The business had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The business's revenue for the quarter was up 35.1% compared to the same quarter last year. Sell-side analysts expect that Vertiv Holdings Co. will post 3.59 earnings per share for the current year.

Vertiv Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.0375 per share. This represents a yield of 14.0%. The ex-dividend date of this dividend was Monday, June 16th. This is a positive change from Vertiv's previous dividend of $0.01. Vertiv's payout ratio is presently 7.18%.

Insiders Place Their Bets

In other Vertiv news, insider Karsten Winther sold 41,654 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $134.21, for a total transaction of $5,590,383.34. Following the sale, the insider owned 18,848 shares of the company's stock, valued at $2,529,590.08. The trade was a 68.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephen Liang sold 43,683 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $115.83, for a total transaction of $5,059,801.89. Following the sale, the executive vice president directly owned 9,551 shares in the company, valued at $1,106,292.33. The trade was a 82.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.63% of the company's stock.

About Vertiv

(Free Report)

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.

See Also

Want to see what other hedge funds are holding VRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertiv Holdings Co. (NYSE:VRT - Free Report).

Institutional Ownership by Quarter for Vertiv (NYSE:VRT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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